Has someone invested in a property around Sai Kung or Clearwater Bay? I am considering those areas due to space primarily. I was not sure if worth taking the leap here but reading through the comments helped. Any tips/concerns to be aware of?
I'd like to stay long term in HK but been getting more opportunities in other Asian countries recently. So may have to relocate but would like to have an investment in HK. The value appreciation here seems better than other places in Asia (risk factor aside).
Least unaffordable homes - supported by monetary policy tracking US easing
More unaffordable homes - supported by the above, Mainland prosperity, goosed by fiscal stimulus and the desire to export capital from the Mainland
Doesn’t look like the same supportive tailwind for mortgage rates from a macro perspective, fundamental demand decreases if fewer mainland Chinese want to acquire property in Hong Kong, and the appointment of a Liaison Office head with no local connections to the tycoons speaks to not prioritising their concerns over China’s.
None of that sounds like a recipe for higher prices, and buying property always looks good if value increases, but I’m curious how many are happy to own something declining in value. Everyone unhappy to own something with a declining asset value should be motivated to sell, so wouldn’t there be a frenzy once that rationale disappears?
I may be wrong, but the above seems logical.
Last edited by AsianXpat0; 09-01-2020 at 08:05 PM.
"I still regard the market as being expensive and poor value. I have no plans to add to the portfolio at current prices. Nor do I have any plans to sell - I'm quite happy to collect the rent and see the mortgages get paid down each month."
We did buy two car parking spaces after that, but I just saw more value in the stock market than the property market.
We'll probably keep what we've got and consider buying again if (when?) prices look more reasonable although the double stamp duty will be a pain if it's still in place.